Nepal Rastra Bank Urges Borrowers to Report Non-Compliance of Loan Terms by Banks and Financial Institutions

Nepal Rastra Bank (NRB) has urged borrowers to register complaints if banks or financial institutions fail to comply with loan terms. The NRB has also created an online portal to facilitate customers in easily notifying the relevant authorities about their issues.

Key Highlights:

Loan Agreement Process:

• Taking a loan from a bank or financial institution involves a contract between the borrower and the lender. This contract specifies terms such as interest rates, loan tenure, repayment methods, collateral, and loan recovery conditions.

Complaint Process:

• If the terms related to interest rates, repayment methods, or any other conditions are not met, the borrower should register a complaint with the grievance officer available on the institution’s website.

Online Grievance Portal:

• Nepal Rastra Bank has set up an online portal for complaint registration: www.gunaso.nrb.org.np

Contact Number:

• Contact number for the Financial Customer Protection Unit: 01-4419804

Nepal Rastra Bank encourages customers who have taken loans from financial institutions to promptly register complaints if terms are not followed, thereby helping protect customers' rights and interests.